ICICI Bank – A bad experience for many
April 27th, 2005 at 10:16pm
I had only verbally heard about the bad experiences people are having with ICICI Bank, but this just proves it!
Came across this page (do read it! – opens in a new window) via madman’s page.
I have a account with ICICI bank because its our salary account, and we are kind of forced to use ICICI Bank. And since we have a salary account, we get a decent service. But yes, the credit card department, and the call centre sucks big time. That’s my personal experience.
They put you on hold for 5 to 10 mins. (just imagine listening to the same junk music/tone/adverts continuously), and then there is no guarantee that you will get to speak to someone or your problem would be solved. Infact, today I was put on hold for around 7 mins, and after that the call as abruptly disconnected!. Next time I call the call center, I get to speak to a totally new person, and start from scrap describing the problem. The people at the call center just promise to do things, and nothing actually happens. If it happens, then you are really your luck.
Hope K V Kamath reads this!.
My advice to all – Avoid ICICI as far as possible. Many people predict that the bank would collapse in a few years from now. Have a account with any nationalized bank.
Personally, I have an account with SBI and keep a minimum amount in ICICI.
Tags: bad service, bank, bank accounts, complaints, Credit cards, customer care, customer service, customers, escalation, ethics, goondas, icici, icici bank, icicibank, india, popular, private, problems, rowdy, service, unethical
Entry Filed under: Life,Useful Stuff
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[...] my own experience, and there are thousands ofothers you will find suffering. Just taking a glance athttp://www.arjunprabhu.com/blog/archives/2005/04/27/icici-bank-a-bad-experience-for-many/and http://www.mouthshut.com/product-reviews/ICICI_Bank-925004492.htmlwill give you an idea of how [...]
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Pingback by ICICI has the worst customer service in India : Personal Experience ! « fighting dreamer — March 14, 2009 #
this is really a grave legal negligency on the part os the india’s largest private bank.what is the legal course action?
OD Sharma
Ghaziabad
Comment by onkar — March 18, 2009 #
I hold ICICI Bank Visa Card. They have provided online facility for EMI conversions. But if use that u will be in a shock. they show 4% interest for 3 EMIs but after u complete the transaction and a services request is given, they will charge u 4.25%. Reason is flimsy i.e. that they have not update the bank site. Same is the case for FD it apears. This is the best way to make premium.
Comment by A K Ramanathan — March 24, 2009 #
Please sign this petition if you have taken home loan from ICICI Bank
ICICI Bank’s Unfair Home Loan Floating Rate Policy http://www.petitiononline.com/bagla27/petition.html
Comment by Deepak Agarwal — March 28, 2009 #
ICICI has started to sink low… trying to earn income in whatever way they can.
In my family’s current account, in Jan 09 they first credited our account with Rs 44,000 and debited the same day, we dont know to whom this transaction or money belonged, still we did not question the ICICI Bank.
But in February 2009, they have send us a Bank Charges bill and also debited the account for the same… now tell me why we are suppose to pay charges on said unknown money… what a cheat bank !!!
Everything/Anything can happen with ICICI bank…
Comment by Ankur Raheja — March 30, 2009 #
I am an ICICI customer and hold 2 bank accounts, Demat Account and also taken bank loan. My Home Loan Account No. is LBKAN00001156337. The loan was issued @7.5% interest rate with Floating Rate.
Due to rising inflation, the interest rates kept on moving upwards and peaked up to 13%. ICICI bank has been very quick to increase the rates.
However, when inflation now falling substancially and RBI cutting interest rates, ICICI is not willing to reduce the floating rate of interest. They are presently charging 12.5% (with 0.5% corporate discount!).
ICICI follows discriminatory policies towards new and existing customers. It is really painful for customers like us who had faith on ICICI bank, bearing the discrimination helplessly.
In crude terms, your bank has displayed (I am not sure knowingly or not) a total ignorance towards existing customers.
Unable to bear the pain, I am forced to think to opting out from ICICI and switch the loan to some other public sector bank, that too at any cost.
I would make all out efforts to discourage all my acquaintances, which is undoubtedly very large, to avoid dealing with ICICI bank for loans.
I am sure, if the business practices if the bank do not adopt a non-discriminating and just business approach, it is bound to fail in India in near future.
Anant Mishra
Addl. GM (Power Plant)
DSCL Sugar Ajbapur
PO: Mullapur
Distt. Lakhimpur Kheri -261505
UP (India)
Comment by Anant Mishra — April 2, 2009 #
Because I spend six months in India and six months a year abroad, I asked the NRI section at Mumbai to send any mail to my foreign address during my absence from India.
The Bank have only two addresses on their records, my foreign address and my Indian address. Neither have changed for some time.
But of course, it’s not so simple to just redirect mail to my other address; I was told I need to send all kinds of address proofs and ID proofs before they can redirect my mail. Can you imagine doing these things every six months when the Bank already have all the relevant address and ID proofs in their records. It’s not as though these addresses are new.
I hold an account with HSBC abroad and when I leave for India, all I need to do is send them an email asking to send all mail to my India address until further notice (even without address proof) and it’s done, no questions asked and the mail arrives on time and without any extra charge for postage. I don’t feel like getting into long email correspondence with ICICI Bank about this so I have had to arrange with the postman to leave my mail at a neighbour’s house because of the stupidity and intransigence of the NRI staff. It’s just too much trouble to try and penetrate the NRI section. It seems to me that all that the ICICI staff are interested in is getting their salary at the end of the month, customers are a nuisance and should be ignored.
What does it matter to anyone at ICICI where a customer wants his mail sending? Provided that the request has been received through the secure connection of their website.
Comment by Norbert H Storbeck — April 7, 2009 #
I am an ICICI customer and hold 1 bank account and also taken bank loan. The loan was issued @7.25% interest rate with Floating Rate.
Due to rising inflation, the interest rates kept on moving upwards and peaked up to 13%. They are presently charging 12.75%.
ICICI bank has been very quick to increase the rates. However, when inflation now falling substantially and RBI cutting interest rates, ICICI is not willing to reduce the floating rate of interest. And to my utmost surprise now they are asking for 1.75% processing fee to reduce the interest rate to 9.75%.
Unable to bear the pain, I am forced to think to opting out from ICICI and switch the loan to some other public sector bank, that too at any cost.
I would make all out efforts to discourage all my acquaintances, which is undoubtedly very large, to avoid dealing with ICICI bank for loans.
Neeraj Singh
Comment by Neeraj Singh — April 20, 2009 #
Sad to see all these bad things done by ICICI Bank. You need to send a letter to RBI, questioning how did they ever give a license to ICICI bank to operate, with a CC to their CEO, mentioning what had happened. If the RBI Governor gets 10 such letters a day, I am sure they might consider to change the management of ICICI bank or may take some drastic measures.
Comment by Partho — May 7, 2009 #